Japan’s central bank cuts interest rate to zero, almost

By Andy Rice• 5 October 2010

On Tuesday the Japanese Central Bank cut its call rate target to zero to 0.1%. Previously the rate had been set at 0.1%. The decision was unanimous, and reflects the country's continuing economic woes - not helped by a strong yen and deflation. The bank also announced that it is considering setting up a ¥5 trillion fund that will be used to buy government securities and bonds to inject some life into the faltering economy.
Read more: AP, via New York Times